Would a global disaster increase or decrease the Bitcoin value ? - page 27.

South Park

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Quote from: justdimin on March 19, 2017, 02:24:24 AM

Quote from: lordquanta on February 28, 2017, 10:11:18 AM

In case of global disaster, price of increasing a currency or commodity is less. In fact price of essentials of life such as food, grains, medicines, water, fuel (petrol, diesel) etc are far more higher. In fact if you check history, recent or old history, one point is observed commonly people cut down expenses and try to keep things as handy as possible.

Thus I don't think there is much chance of increase in bitcoin value.

Yes you have explained every bit I wanted to, though a few more to add from my side.

Actually let's consider there is a major earthquake which is a natural calamity now what would happen is people would be much more restricted to their house and actually on roads which would mean that there is a slight possibility that there are more digital transactions knowing that cash would be hard to get in those conditions.
Really hard to image, anyone up for a practical Grin

?

I think it is the other way around, when a disaster happen, ATM don't work so most people need to rely on the cash they had in hand in a disaster since bitcoin is decentralized you will probably have access to it but where are you going to spend it? I don’t think many will be willing to exchange the little they have for a currency they don’t know is going to be useful in the future after the disaster.

Emoclaw

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This is an incredibly vague question and every answer is meaningless.
What kind of disaster? Wars between which countries? If Japan and China nuke each other then maybe.

Maybe there's a natural disaster that is so great that Everyone Dies™ and so Bitcoin's value goes 0.

Gotottack

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I think if it comes to a global disaster that would affect every nation that would cause us to forget everything else and try to survive, then bitcoin will have no use. So price cannot really be talked about anymore since no one will value it. If the prices go up so high and no one even cares to buy one then what is the point. Value and prices are two distinct concept that we must know. Price is just a numerical representation of the value of something. If no one values it, price is irrelevant.

LuanX3

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For sure it will decrease the prices as people will tend to sell their property and get as much cash as they can before everything closes down. Though, the problem is if it comes to worst, then people would prefer to have commodity that is important than having any kind of currency or cryptocurrency.

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Quote from: CosmicVibe on February 25, 2017, 03:01:51 PM

Hi ! First message here.

If a global disaster would happen on earth ( And I somehow don't wish it ) Would the value increase or decrease ?

I'm not talking about solar flares or EMP. But more like big wars or great natural disaster.

What are your opinions on the subject ? Cheesy

Definitely, it will affect bitcoin an other crypto currencies and even money. I don't pray for disaster like war as many human life will go but we are talks about it infect on bitcoin. Somehow bitcoin prices may increase as many people may like keep their asset in bitcoin so they can access it were ever they are.

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Quote from: tabas on February 26, 2017, 01:41:36 PM

If you are living on a place or community where people are into bitcoins and you are going to be one in the middle of the war/global disaster. Bitcoin's price will be moved depending on many volumes of transactions are happening in your place or if a whale will be affected with it.

I guess a global disaster means one that affects the globe or whole world and hence the area talk you did is pointless.

Basically if a little area or a city is damaged by a disaster then there won't be any effect but if a serene disaster like say world war happens then there for sure would be a crisis of food and shelter, wonder if bitcoins would stop for a certain time because really money won't be the priority that time.

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This would depend on the scenario, many events could happen, but I think that in most cases a major disaster would bring great instability to almost all fiat currencies... so I think Bitcoin would benefit in some way.

szpalata

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Quote from: CosmicVibe on February 25, 2017, 03:01:51 PM

Hi ! First message here.

If a global disaster would happen on earth ( And I somehow don't wish it ) Would the value increase or decrease ?

I'm not talking about solar flares or EMP. But more like big wars or great natural disaster.

What are your opinions on the subject ? Cheesy

I suspect it will increase its value because of how demanding it will become if any disaster should ensue. People might loose their fiats and other valuable items and the only remedy will be to perform online transactions and that's when Bitcoin comes into play.

megynacuna

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Quote from: sportis on March 19, 2017, 11:26:33 AM

Everything is supply and demand. In case of a major disaster extended demand has food and water. So the prices from these two goods without any doubt will rise. Regarding the bitcoin price will probably not be affected. Maybe if there is no demand then the price is likely to be decreased unless it is used to in order people to purchase the necessary food and water.

There will be demand for Bitcoin because traveling will be restricted in such disasters and so people will resort to using making online and remote transactions and have them delivered at their door steps rather than go out to get them themselves and since Bitcoin is well suited for such transactions I guess it will be in demand and hence its prices will shoot up.

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Quote from: CosmicVibe on February 25, 2017, 03:01:51 PM

Hi ! First message here.

If a global disaster would happen on earth ( And I somehow don't wish it ) Would the value increase or decrease ?

I'm not talking about solar flares or EMP. But more like big wars or great natural disaster.

What are your opinions on the subject ? Cheesy

First and foremost I also wish god that this does not happen but actually if this happens means that there would be a immediate crisis of most of the things and people would get back to basic life, where they need a house, food and clothes meaning that it would effect bitcoins in a negative manner of course but not just bitcoins actually all the digital stuff.

sportis

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Everything is supply and demand. In case of a major disaster extended demand has food and water. So the prices from these two goods without any doubt will rise. Regarding the bitcoin price will probably not be affected. Maybe if there is no demand then the price is likely to be decreased unless it is used to in order people to purchase the necessary food and water.

grandy

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Quote from: South Park on March 18, 2017, 04:52:18 PM

Quote from: Hydrogen on March 17, 2017, 07:55:54 PM

Value of commodities like food, water, electricity and shelter might increase.

Luxuries like gold, diamonds, paper money & bitcoins might decline.

BTW - If indians really did trade manhattan for $24 worth of beads and trinkets, I could be totally wrong about that.

In the event of a major disaster, electricity is probably been one of the first things is going to disappear since the electric grid is very susceptible to almost any type of disaster we can imagine, like flooding fires, tornadoes or hurricanes.

i think global disaster can not only effect bitcoin, but it can also decrease the value of every thing. in fact global disaster can effect all the aspects of our life.

justdimin

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Quote from: lordquanta on February 28, 2017, 10:11:18 AM

In case of global disaster, price of increasing a currency or commodity is less. In fact price of essentials of life such as food, grains, medicines, water, fuel (petrol, diesel) etc are far more higher. In fact if you check history, recent or old history, one point is observed commonly people cut down expenses and try to keep things as handy as possible.

Thus I don't think there is much chance of increase in bitcoin value.

Yes you have explained every bit I wanted to, though a few more to add from my side.

Actually let's consider there is a major earthquake which is a natural calamity now what would happen is people would be much more restricted to their house and actually on roads which would mean that there is a slight possibility that there are more digital transactions knowing that cash would be hard to get in those conditions.
Really hard to image, anyone up for a practical Grin

?

South Park

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Quote from: Hydrogen on March 17, 2017, 07:55:54 PM

Value of commodities like food, water, electricity and shelter might increase.

Luxuries like gold, diamonds, paper money & bitcoins might decline.

BTW - If indians really did trade manhattan for $24 worth of beads and trinkets, I could be totally wrong about that.

In the event of a major disaster, electricity is probably been one of the first things is going to disappear since the electric grid is very susceptible to almost any type of disaster we can imagine, like flooding fires, tornadoes or hurricanes.

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Quote from: CosmicVibe on February 25, 2017, 03:01:51 PM

Hi ! First message here.

If a global disaster would happen on earth ( And I somehow don't wish it ) Would the value increase or decrease ?

I'm not talking about solar flares or EMP. But more like big wars or great natural disaster.

What are your opinions on the subject ? Cheesy

A disaster, man-made (large scale war) or natural, that disrupts global commerce would tank the bitcoin price. The thing that gives bitcoin value is excess wealth to speculate on a something like bitcoin. When economic uncertainty rises on a large scale, you will see people flee bitcoin quickly. Look at the present price crash, it's down more than $300 (a 25% crash) in less than 24 hours, and the economy is solid right now. If it can't maintain a stable value in the good times, it will be near worthless in the bad.

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Quote from: aardvark15 on March 17, 2017, 09:39:00 PM

In a global disaster, I think all currencies would decrease in value. And if the internet was affected by this disaster, then obviously, Bitcoin would not make it.

It is certain that the internet will be affected in case of a global disaster and we have witnessed that when we had tsunami all the telephone networks went down along with internet connections and it took almost a month to rectify those and bitcoin being used with the help of internet connection i can bet that everything will be down.

vrm86

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Quote from: Winchester2211 on March 18, 2017, 10:07:30 AM

Quote from: vrm86 on March 18, 2017, 09:59:50 AM

If such uncertain time would come, I guess that demand for solid assets (golds, diamonds) would skyrocket. In case of disaster no one would consider bitcoin as a safe asset anymore, as it requires access to the blockchain. IMO Bitcoin needs relatively peaceful and certain world situation to get people trust and interests. If I'd have choose to have an ounce of gold or 10BTC at the time of world cataclysm, I would definetelly pick gold.

I agree with you, but I think that the cataclysm is more valued food and the most necessary things than gold and diamonds. Bitcoin won't be valued.

We have to define what scale and type of disaster we consider. If it's worlds conflict I think that gold would still be valueable as an universal asset (as national borders and bank authorities would have no longer have any power). But in case of threat to entire humanity I would agree that weapons, bottled water and canned food would be most demanded goods (just watch any "Walking Dead" episode Cheesy

).

Winchester2211

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Quote from: vrm86 on March 18, 2017, 09:59:50 AM

If such uncertain time would come, I guess that demand for solid assets (golds, diamonds) would skyrocket. In case of disaster no one would consider bitcoin as a safe asset anymore, as it requires access to the blockchain. IMO Bitcoin needs relatively peaceful and certain world situation to get people trust and interests. If I'd have choose to have an ounce of gold or 10BTC at the time of world cataclysm, I would definetelly pick gold.

I agree with you, but I think that the cataclysm is more valued food and the most necessary things than gold and diamonds. Bitcoin won't be valued.

vrm86

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If such uncertain time would come, I guess that demand for solid assets (golds, diamonds) would skyrocket. In case of disaster no one would consider bitcoin as a safe asset anymore, as it requires access to the blockchain. IMO Bitcoin needs relatively peaceful and certain world situation to get people trust and interests. If I'd have choose to have an ounce of gold or 10BTC at the time of world cataclysm, I would definetelly pick gold.

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Global disasters/natural calamities wont really affect bitcoins value but only to those users who are in on a particular area of effect they might not able to logged in to saw their own bitcoin wallet and we do all know that as long theres an internet the network will be alive no matter what happens. If theres and EMP then it would be possible.

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